DISPATCH SYSTEM
Hunt on for mule bank accounts; Tata Digital pause on funding
The government is working with the central bank to catch mule accounts in India’s banking system and prevent fraud. This and more in today’s ETtech Morning Dispatch.
Credit card bill payment hurdles; startup funding logs slight uptick
Happy Friday! The central bank has mandated credit card bill payments through Bharat Bill Payment System (BBPS), but only eight of 34 banks are live on the network, causing concern among payment companies. This and more in today’s ETtech Morning Dispatch.
Stock brokers push lending; InsuranceDekho’s latest acquisition
Happy Tuesday! Tech-first broking companies are looking to diversify into the credit business to build a larger financial services play. This and more in today’s ETtech Morning Dispatch.
A Mumbai firm finds a way to reduce container turnaround time from 34 days to 2 days
Backed by Zerodha founders, MatchLog Solutions has found an answer to an issue that has haunted transporters for years.
Visa fee hike hits IT cos; Airport cab fares set to rise
Happy Friday! The hike in H-1B visa fee will hurt IT service companies severely, experts have warned. This and more in today’s ETtech Morning Dispatch.
Ambulances startup Red.Health raises $20 million led by Jungle Ventures
Hyderabad-based startup Red.Health will use the fresh capital to innovate its product, advance its technology, and improve its dispatch system to minimise human errors and optimise response time.
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Byju's EGM in focus; Elevation's long Paytm bet
The investors have red-flagged the acquisition of Aakash Educational Services Ltd (AESL) saying Byju's agreed to “onerous” and “prejudicial” loan terms with Davidson Kempner (DK), among other matters.
How firm and dispatchable renewable energy is transforming India’s sustainable energy landscape
India aims to source 50% of electric power from non-fossil fuels and reduce carbon emissions by 45% from 2005 levels by 2030. The 2023 National Electricity Plan by the Central Electricity Authority (CEA) estimates the need for 486 GW of variable renewables (solar and wind) to achieve this target. Challenges posed by the high penetration of variable and intermittent renewable energy can be solved through firm and dispatchable renewable energy power, obtained by integrating energy storage systems.
India to export BrahMos supersonic missile systems to Philippines in next 10 days: DRDO chief
India is set to export BrahMos missile systems to the Philippines, marking its largest-ever defence contract with a foreign nation. DRDO Chairman Dr. Samir V Kamat anticipates ground systems to be sent in the next 10 days, with missiles following by March. This move underscores India's rising profile in global defence exports, with DRDO highlighting a substantial portfolio and rapid product development. The BRAHMOS supersonic cruise missile, a joint venture with Russia, continues to enhance India's deterrence power, solidifying its position as a reliable player in international arms markets.
Sharp correction in December dispatches for Passenger Vehicles in India indicates market slowdown
In December, passenger vehicle (PV) manufacturers in India are expected to experience a significant decline in dispatches to dealers, signaling a slowdown in sales. The easing of demand after festivals and the impact of last year's high base have prompted automakers to reduce dispatches.
Tesla recalls nearly all vehicles sold in US to fix system that monitors drivers using Autopilot
Tesla is recalling nearly all vehicles sold in the US, more than 2 million, to update software and fix a defective system that's supposed to ensure drivers are paying attention when using Autopilot. Documents posted Wednesday by US safety regulators say the update will increase warnings and alerts to drivers and even limit the areas where basic versions of Autopilot can operate.
Unmanned flight tests to kick off for Gaganyaan
The Gaganyaan project will aim to demonstrate human spaceflight capability by launching a three-member crew to Low Earth Orbit (LEO) of 400 km for a three-day mission and bring them back safely to earth, with a planned splashdown in Indian sea waters.
All roads in Bengaluru lead to ETSA 2023; IT industry searches for greener pastures
The biggest names in India’s startup galaxy, top entrepreneurs, policymakers and investors will congregate to celebrate the country’s brightest entrepreneurs in Bengaluru on October 7 at the ninth edition of The Economic Times Startup Awards. This and more in today’s ETtech Morning Dispatch
ISRO sets sights on Sun, Venus and Mars: Successful moon landing boosts India's space ambitions
India's space agency, ISRO, is preparing for its next mission to investigate the Sun with the launch of the Aditya-L1 spacecraft. This will be India's first space-based solar observatory and will be positioned in a halo orbit around the Sun. Following the success of the Chandrayaan-3 mission, ISRO Chairman S Somanath expressed confidence in future missions to Mars, Venus, and beyond. The experience gained from probing the Moon's south pole will be valuable in preparing for future interplanetary conquests. ISRO also has plans for a Venus mission in 2024.
Every company is now a software company: The lines between manufacturing and digital firms are blurring
The invention of machines changed the world. Now, software is steadily changing the ways machines work, and the way companies handle themselves.
Man calls police helpline number 112 to find his missing sandals in Mangaluru
A man in Mangaluru dialed the police helpline number 112 to report the missing clogs he had left outside a city hall. The police identified a suspect but were unable to recover the stolen footwear, whose value was unknown as the complainant had no purchase bill. Mangaluru city police receive an average of 45 distress calls daily on the centralized helpline number.
What's Railways Kavach, the rail protection system that could have prevented Odisha train accident
The Indian Railways’ automatic train protection system, “Kavach,” developed by the Research Design and Standards Organisation (RDSO) to boost train safety, has come into the spotlight following a train collision which resulted in over 288 deaths and nearly 1,000 injuries. The system is not yet available on the route the accident took place.
Power Min revises framework to supply cheapest power lot first to consumers
The gains out of the proposed Day-Ahead National Merit Order Dispatch Mechanism would be shared between generating stations and their consumers. This will result in increased annual savings for electricity consumers. The existing mechanism of merit order dispatch in real-time was made operational in April 2019. The mechanism optimised the total variable cost of generation pan-India while meeting technical and grid security constraints.
US deploying more cyber forces abroad to help fight hackers
In the last three years, the US military's Cyber National Mission Force (CNMF) has conducted 47 such "hunt forward" defensive operations across 20 countries at the invitation of those nations, US Army major General William Hartman said.
DCX Systems IPO: Here's how to check allotment status and GMP
The quota reserved for qualified institutional buyers (QIBs), was subscribed 82.32 times, while the one reserved for non-institutional investors (NIIs) and retailers was subscribed 43.97 times and 61.77 times, respectively.
Despite soaring mercury levels in Delhi, power demand declines: Data
The highest-ever peak demand of Delhi was 7,409 MW on July 2, 2019. With a harsher summer season this year, the discoms have expected the peak demand to breach the 8,000 MW and scale up to 8,200 MW in the coming days.
Chip shortage: Hero Electric reports zero dispatches in April
The company experienced extreme chip shortage and supply chain constraints, Hero Electric said in a statement. The automotive industry is still struggling with international chip shortage leading to loss of production. Hero Electric was hit by the same and posted zero dispatches in April 2022, it added.
The art of self-regulation by crypto players; Tata Digital’s payments play
With India's cryptocurrency laws likely to be delayed further, crypto exchanges are debating updates to their self-regulatory code of conduct to avoid run-ins with the authorities.
Edtech firms join forces to set rules; Tata’s new financial marketplace
India’s top edtech firms are joining forces to implement a self-regulatory code on how they do business in the country. Tata Digital has set up a fintech arm to compete better with Amazon and Reliance.
CCI to seek app makers’ inputs on Google; BigBasket tests group buying
The Competition Commission of India (CCI) wants to know how Google’s Play Store policy affects the income of Indian app developers. BigBasket is taking a page out of China’s Pinduoduo to push online grocery in India’s hinterland.
Online sales jump as third wave arrives; three arrests in ‘Bulli Bai’ case
Executives of various companies that make essential goods tell us their online sales have increased 10-15% over the past seven days as people remain indoors.
Flipkart to triple down on Ninjacart; e-gaming firms seek regulations
Go big or go home seems to be the mantra of India’s online grocery sector dominated by giants like Tata and Amazon. Flipkart is looking to do exactly that with a potential $100 million investment in Ninjacart.
Binny Bansal’s Flipkart stock sale; Uber’s Rs 2 crore job offer at IITs
Binny Bansal, who cofounded Flipkart along with Sachin Bansal, has scooped up a good sum by selling a part of his stake in the company. The remaining stock can result in further wealth creation at the time of Flipkart IPO.
Satyendar Jain inaugurates 10 MW battery energy storage system
"Visited 10MW Battery Energy Storage System at Rohini today (Sunday). This system is made by Tata Power and is South Asia's largest Energy Storage System.
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